CreditAccess Grameen is all set to enter the bond market next week to raise up to Rs 1000 crore in non-convertible debentures, as it looks to diversify the liability profile. This is the second bond raising by India’s largest NBFC-MFI after raising Rs 500 crore in November last year. “The issue is in sync with … Read more
MUMBAI – Tata Asset Management Co’s largecap, midcap, and smallcap funds have outperformed benchmark in the medium to long term, and exposure to three major sectors drove this performance. For Tata Largecap fund, an overweight exposure to financial services and capital goods contributed to the outperformance, says Chandraprakash Padiyar, senior fund manager – equity at … Read more
“We expect double-digit returns from Indian equities in 2023 in line with the benchmark earnings growth,” says Naveen Kulkarni, Chief Investment Officer, Axis Securities PMS. In an interview with ETMarkets, Kulkarni who has over 19 years of experience in the Financial Services and Telecom sectors, said: “The important factor for 2023 will be earnings growth … Read more
The Reserve Bank of India on Friday announced the opening of third cohort under the Regulatory Sandbox (RS) with MSME Lending as its theme. The window for submission of applications for the Cohort shall be open from 01 October 2021 to 14 November 2021. “The MSME segment has emerged as the growth engine of Indian … Read more
The banking and financial services sector offers many investment opportunities. It is closely linked to the economy and has the potential to grow faster than the economy. This is reflected on the fact that the share of financial services in India’s market capitalisation has increased from ~6 per cent in FY01 to ~24 per cent … Read more
ISTANBUL—Turkey’s President Recep Tayyip Erdogan dismissed the central bank governor as the country is beset by its second currency crisis in two years. In a decree published in the early hours of Saturday, Mr. Erdogan ended the mandate of Murat Uysal, who had led the institution since the summer of 2019, replacing him with Naci … Read more
NEW DELHI—Investors across the globe are hoarding gold in the Covid-19 pandemic. In normally gold-obsessed India, there’s a glut, as struggling families stop buying and start hocking jewelry. International investors have lifted the price of gold to all-time highs this year, trying to get their hands on more gold coins, bars and exchange-traded funds. Many … Read more
TOKYO—Japan’s next leader will face a question many other countries are now grappling with because of the coronavirus pandemic: How much can central banks do to pull economies out of a deep malaise? Shinzo Abe, who said Friday he would resign after nearly eight years in office because of illness, leaned heavily on the Bank … Read more
WELLINGTON, New Zealand—New Zealand activated its National Security System in response to a prolonged cyberattack that disrupted trading on the country’s stock exchange this week. Trading on New Zealand’s securities market was halted for a fourth day on Friday by a denial of service attack that NZX Ltd., the exchange’s operator, said came from overseas. … Read more
WASHINGTON—U.S. authorities on Thursday moved to seize 280 cryptocurrency accounts they said were used by North Korean hackers who stole an estimated more than $1 billion from exchanges around the world, including U.S.-based Algorand. The U.S. Justice Department said the accounts targeted in the civil forfeiture filing were used by the North Korean hackers and … Read more